Cementir’s progress held back by Italy

Published:
02 April 2008

Cementir generated a turnover of EUR1152.1m in 2007, which represents an increase of 9.4 per cent. Of this total, Denmark contributed 35.1%, Turkey 22.2%, Italy 20.5% and other Scandinavian countries 17.4%, with the remainder coming from Egypt, the Far East and other countries. The group EBITDA rose by 10.8% to EUR274.1m, the pre-tax profit increased by 18.1% to EUR199.4m and the net attributable profit advanced by 23.1% to EUR140.4m. Deliveries of grey and white cement rose by 6.3% to 10.88Mt, while the aggregates volume increased by 21.7% to 3.57Mt and ready-mixed concrete volume advanced by 4.8% to 4.53Mm³. In terms of EBITDA, the contribution from cement improved by 9.3% to EUR716.7m and that from concrete and aggregates by 11.1% to EUR420.0m, while other activities are quite insignificant and fell by 10.3% to EUR30.4m.

Aalborg Portland’s cement business contributed a turnover 8.4% higher at EUR298.7m and its EBITDA rose by 13.1% to EUR95.7m. Apart from its strong position in the international white cement market, Aalborg Portland has a dominant share in the Danish grey cement market and an important share of the Icelandic market.

Unicon, which covers the downstream operations in Denmark, Norway and Sweden, generated an 11.9% increase in turnover to EUR364.8m and the EBITDA improved by 11.3% to EUR43.2m. At the beginning of March 2008, Unicon announced the acquisition of Kudsk & Dahl, which operates in southern Denmark, for EUR21m. Kudsk & Dahl sells 1.2Mt of aggregates and 0.1Mm³ of ready mixed concrete per annum, generating a turnover of€16m and an EBITDA of EUR3m.